NIIT - Multiple Frame Analysis | Yearly Resistance Breakout
Weekly Chart
The downtrend reversed from support level and price given a yearly resistance breakout with rising volume. The stock continually making a higher high from past 7 months and 50% fib acting as strong support.
Daily Chart
Upward parallel channel breakout and retested the level with good volume.
Technical Indicator
- Golden crossover and price above key moving average 20, 50 and 200.
- RSI breakout and successful retested the level.
Entry above Rs 407 ; Stop Loss below Rs 376 ; Target 1 Rs 500 [30%]
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
The downtrend reversed from support level and price given a yearly resistance breakout with rising volume. The stock continually making a higher high from past 7 months and 50% fib acting as strong support.
Daily Chart
Upward parallel channel breakout and retested the level with good volume.
Technical Indicator
- Golden crossover and price above key moving average 20, 50 and 200.
- RSI breakout and successful retested the level.
Entry above Rs 407 ; Stop Loss below Rs 376 ; Target 1 Rs 500 [30%]
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Nota
Monthly ChartNota
Support Rs 382 ; Resistance Rs 417Nota
Corporate News :NIIT Ltd shares demerger on June 8 in the ratio of 1:1
Nota
Price Adjusted ChartNota
price hovering around support level.
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